Preliminary eligible costs = AU x C
Where
AU is the approved area for unhoused students; and
C is the area cost allowance.
Preliminary eligible costs = (ACP - PC) x (C / CP) where
ACP is the preliminary eligible costs for the facilities purchased pursuant to (a) above;
PC is the purchase cost for the facility;
C is the area cost allowance at the time of application for the school facilities project; and
CP is the area cost allowance at the time of purchase of the facility.
Preliminary eligible costs so calculated shall not be less than zero.
N.J. Admin. Code § 6A:26-3.4
See: 33 N.J.R. 1809(a), 33 N.J.R. 3482(a).
Rewrote (b) as (b) and (c); recodified former (c) through (e) as (d) through (f); and updated N.J.A.C. references throughout.
Amended by R.2007 d.81, effective 3/19/2007.
See: 38 N.J.R. 4533(a), 39 N.J.R. 899(a).
In (f), inserted "school" preceding "districts" two times.
Amended by R.2013 d.145, effective 12/16/2013.
See: 45 N.J.R. 1026(a), 45 N.J.R. 2557(a).
In (a), substituted "Upon approval of a completed school facilities project application, preliminary" for "Preliminary", and inserted a comma following ""N.J.A.C. 6A:26-3.3"; in the introductory paragraph of (b), substituted "as" for a comma following "actual costs"; in (b)4, substituted "UCC" for "Uniform Construction Code"; in (e), substituted "deemed approved" for " 'deemed approved' "; in (f), substituted "county vocational" for "vocational education", inserted "of" preceding "special", and deleted "N.J.S.A." preceding "18A:54-31"; and added (g).